MoviePass’ claims about its importance to AMC Theatres are grossly deceptive


On Thursday, the subscription service MoviePass decided to stop supporting several high-profile AMC Theatres locations in major cities. The move came after months of squabbling between the two companies, during which AMC detailed its concerns with the service’s long-term implications, while MoviePass rocketed to 1.5 million subscribers.

Today Ted Farnsworth, CEO of the data analytics firm Helios & Matheson — which purchased a majority stake in MoviePass in 2017, setting off the service’s across-the-board price reductions — released a statement defending the move. His press release claims MoviePass is “working to revitalize a declining industry,” and provides some estimates about how much MoviePass contributes to AMC’s bottom line. The...

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via The Verge - Tech Posts "http://ift.tt/2Gn8A6v"

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